Sunnova Energy International Inc. [NYSE: NOVA] traded at a high on 01/21/21, posting a 8.15 gain after which it closed the day’ session at $54.12. The company report on January 6, 2021 that Enphase Energy and Sunnova Expand Partnership to Include Battery Storage.
Enphase Energy, Inc. (NASDAQ: ENPH), a global energy management technology company and the world’s leading supplier of microinverter-based solar-plus-storage systems, announced the expansion of the Company’s long-term relationship with Sunnova Energy International Inc. (NYSE: NOVA) to include Enphase Encharge™ storage systems. As a power service provider, Sunnova will empower its network of solar dealers in the U.S. to provide a simple upgrade path for existing Enphase homeowners as well as homeowners who are new to solar and storage.
“Homeowners are now more than ever using their homes for both daily living and as a place for work,” said William J. (John) Berger, Chief Executive Officer of Sunnova. “Our goal in partnership with Enphase is to deliver energy resilience and independence to homeowners, and our long-standing collaboration with Enphase means that our dealers can quickly deploy Enphase Encharge storage systems to new customers as well as to our large installed base of Enphase solar-powered homes.”.
The results of the trading session contributed to over 1900843 shares changing hands. Over the past one week, the price volatility of Sunnova Energy International Inc. stands at 8.25% while the volatility over the past one month is 8.47%.
The market cap for NOVA stock reached $5.54 billion, with 87.77 million shares outstanding and 66.18 million shares in the current float. Compared to the average trading volume of 2.05M shares, NOVA reached a trading volume of 1900843 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Sunnova Energy International Inc. [NOVA]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NOVA shares is $48.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NOVA stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
CapitalOne have made an estimate for Sunnova Energy International Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 17, 2020. The new note on the price target was released on December 02, 2020, representing the official price target for Sunnova Energy International Inc. stock. Previously, the target price had yet another raise to $37, while Piper Sandler analysts kept a Overweight rating on NOVA stock. On September 30, 2020, analysts increased their price target for NOVA shares from 29 to 34.
The Average True Range (ATR) for Sunnova Energy International Inc. is set at 3.97, with the Price to Sales ratio for NOVA stock in the period of the last 12 months amounting to 35.45. The Price to Book ratio for the last quarter was 6.58, with the Price to Cash per share for the same quarter was set at 0.83.
How has NOVA stock performed recently?
Sunnova Energy International Inc. [NOVA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.58. With this latest performance, NOVA shares gained by 27.79% in over the last four-week period, additionally plugging by 147.80% over the last 6 months – not to mention a rise of 319.86% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NOVA stock in for the last two-week period is set at 67.69, with the RSI for the last a single of trading hit 69.97, and the three-weeks RSI is set at 66.33 for Sunnova Energy International Inc. [NOVA]. The present Moving Average for the last 50 days of trading for this stock 42.15, while it was recorded at 50.11 for the last single week of trading, and 26.21 for the last 200 days.
Sunnova Energy International Inc. [NOVA]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Sunnova Energy International Inc. [NOVA] shares currently have an operating margin of -17.01 and a Gross Margin at +58.43. Sunnova Energy International Inc.’s Net Margin is presently recorded at -109.73.
Return on Total Capital for NOVA is now -1.17, given the latest momentum, and Return on Invested Capital for the company is -8.44. Return on Equity for this stock declined to -25.17, with Return on Assets sitting at -6.95. When it comes to the capital structure of this company, Sunnova Energy International Inc. [NOVA] has a Total Debt to Total Equity ratio set at 225.07. Additionally, NOVA Total Debt to Total Capital is recorded at 69.24, with Total Debt to Total Assets ending up at 58.46. Long-Term Debt to Equity for the company is recorded at 209.90, with the Long-Term Debt to Total Capital now at 64.57.
Reflecting on the efficiency of the workforce at the company, Sunnova Energy International Inc. [NOVA] managed to generate an average of -$445,528 per employee. Receivables Turnover for the company is 4.99 with a Total Asset Turnover recorded at a value of 0.06.Sunnova Energy International Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.70.
Earnings analysis for Sunnova Energy International Inc. [NOVA]
With the latest financial reports released by the company, Sunnova Energy International Inc. posted 0.03/share EPS, while the average EPS was predicted by analysts to be reported at -0.2/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 115.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NOVA.
Insider trade positions for Sunnova Energy International Inc. [NOVA]
There are presently around $4,659 million, or 87.70% of NOVA stock, in the hands of institutional investors. The top three institutional holders of NOVA stocks are: ECP CONTROLCO, LLC with ownership of 24,911,664, which is approximately -35.046% of the company’s market cap and around 0.40% of the total institutional ownership; NEWLIGHT PARTNERS LP, holding 7,535,161 shares of the stock with an approximate value of $407.8 million in NOVA stocks shares; and BLACKROCK INC., currently with $210.29 million in NOVA stock with ownership of nearly 107.686% of the company’s market capitalization.
Positions in Sunnova Energy International Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 125 institutional holders increased their position in Sunnova Energy International Inc. [NYSE:NOVA] by around 25,684,052 shares. Additionally, 26 investors decreased positions by around 19,378,688 shares, while 6 investors held positions by with 41,025,682 shares. The mentioned changes placed institutional holdings at 86,088,422 shares, according to the latest SEC report filing. NOVA stock had 68 new institutional investments in for a total of 13,859,426 shares, while 9 institutional investors sold positions of 241,717 shares during the same period.